New Harbor Financial Group Lowers stake in Goldcorp (USA) (GG)

Goldcorp (USA) (GG) : New Harbor Financial Group reduced its stake in Goldcorp (USA) by 57.7% during the most recent quarter end. The investment management company now holds a total of 12,166 shares of Goldcorp (USA) which is valued at $178,232 after selling 16,597 shares in Goldcorp (USA) , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Goldcorp (USA) makes up approximately 0.26% of New Harbor Financial Group’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in GG in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 8,596 shares of Goldcorp (USA) which is valued at $125,931.Hexavest reduced its stake in GG by selling 2,688,123 shares or 84.57% in the most recent quarter. The Hedge Fund company now holds 490,527 shares of GG which is valued at $6,862,473. Goldcorp (USA) makes up approx 0.12% of Hexavest’s portfolio.Prospera Financial Services Inc reduced its stake in GG by selling 39,911 shares or 31.3% in the most recent quarter. The Hedge Fund company now holds 87,580 shares of GG which is valued at $1,225,244. Goldcorp (USA) makes up approx 0.25% of Prospera Financial Services Inc’s portfolio.Simplex Trading boosted its stake in GG in the latest quarter, The investment management firm added 77,238 additional shares and now holds a total of 188,860 shares of Goldcorp (USA) which is valued at $2,662,926. Goldcorp (USA) makes up approx 0.35% of Simplex Trading’s portfolio.

Goldcorp (USA) closed down -0.17 points or -1.20% at $13.99 with 71,57,559 shares getting traded on Tuesday. Post opening the session at $14.07, the shares hit an intraday low of $13.86 and an intraday high of $14.21 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Goldcorp (USA) reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.04. The company had revenue of $921.00 million for the quarter, compared to analysts expectations of $902.71 million. The company’s revenue was down -30.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Goldcorp (USA). Goldcorp (USA) was Initiated by National Bank Financial to “Outperform” on Sep 8, 2016. Goldcorp (USA) was Initiated by Berenberg to “Hold” on Sep 7, 2016. Goldcorp (USA) was Initiated by Morgan Stanley to “Overweight” on Aug 9, 2016.

Goldcorp Inc. (Goldcorp) is a gold producer engaged in the acquisition exploration development and operation of gold properties in Canada the United States Mexico and Central and South America. The Company’s principal products are gold and the byproduct silver copper lead and zinc. Goldcorp’s operating assets include four mines in Canada two mines in Mexico and four in Central and South America.

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